Indiana § 6-1.1-34-7 Department of local government finance computation of new
adjustment factors for school corporations; notice of new ratio;
designated adjustment factor applies under certain circumstances

Indiana Statutes

§ 6-1.1-34-7 — Department of local government finance computation of new adjustment factors for school corporations; notice of new ratio; designated adjustment factor applies under certain circumstances

Indiana § 6-1.1-34-7

Art. 1.1PROPERTY TAXES

Ch. 34Determination of School Assessment Ratios and

This text of Indiana § 6-1.1-34-7 (Department of local government finance computation of new adjustment factors for school corporations; notice of new ratio; designated adjustment factor applies under certain circumstances) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 6-1.1-34-7 (2026).

Text

(a)Each year in which the department of local government finance computes a new assessment ratio for a school corporation, the department shall also compute a new adjustment factor for the school corporation. If the school corporation's assessment ratio for a year is more than ninety-nine percent (99%) but less than one hundred one percent (101%) of the state average assessment ratio for that year, the school corporation's adjustment factor is the number one

(1). In all other cases, the school corporation's adjustment factor equals:

(1)the state average assessment ratio for a year; divided by

(2)the school corporation's assessment ratio for that year. The department of local government finance shall notify the school corporation of its new adjustment factor before March 2 of the year in

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(a) Each year in which the department of local
government finance computes a new assessment ratio for a school
corporation, the department shall also compute a new adjustment factor
for the school corporation. If the school corporation's assessment ratio
for a year is more than ninety-nine percent (99%) but less than one
hundred one percent (101%) of the state average assessment ratio for
that year, the school corporation's adjustment factor is the number one
(1). In all other cases, the school corporation's adjustment factor equals:
(1) the state average assessment ratio for a year; divided by
(2) the school corporation's assessment ratio for that year.
The department of local government finance shall notify the school
corporation of its new adjustment factor before March 2 of the year in
which the department calculates the new adjustment factor.
(b) This subsection applies in a calendar year after which a cycle
under a county's reassessment plan prepared under IC 6-1.1-4-4.2 is
completed. If the department of local government finance has not
computed a new assessment ratio for a school corporation, the school
corporation's adjustment factor is the number one (1) until the
department of local government finance notifies the school corporation
of the school corporation's new adjustment factor.
[Pre-1975 Property Tax Recodification Citations: 6-1-66-2
part; 6-1-66-4 part.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by
P.L.273-1999, SEC.131; P.L.90-2002, SEC.243; P.L.224-2003,
SEC.138; P.L.182-2009(ss), SEC.171; P.L.112-2012, SEC.47;
P.L.86-2018, SEC.64.